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factors of production by govt. , by society and privetly
Webster Gutkowski
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Who owns the factors of production in market economy?
factors of production by govt. , by society and privetly
Which economic institution owns the factors of production in a market economy?
communism households
Who owns the factor of production in free market?
Free markets are owned by the govern,ent, and so everything inside that market is the government.
Who owns the factors of productiom and makes economic decisions in a market economy?
Individuals own the factors of production and make economic decisions in a market economy. This is in contrast to a command economy, where the government makes those decisions.
Who owns the resources in market economy?
Consumers
What is a market economy based on?
A market economy is an economy in which decisions regarding investment, production and distribution are based on market determined supply and demand. Prices of goods and services are determined in a free priced system
What is an economy where government owns all production and industry?
Command Economy.
In this type of economy the government owns the basic means of production?
Socialism
Who owns the capital tools and production of equipment in a command economy?
The government
Economy where government owns all industry and production?
Socialism
Who owns and controls the factors of production in a mixed economy?
both the government and private sectors
In what type of economy the government owns the basic means of production?
A Communist Economy. ------ Socialism
